Moët Hennessy Louis Vuitton (LVMH) has reported a rebound in Champagne & Cognac sales in Q1/2010. Like-for-like sales at the firm's wine & spirits division, Moët Hennessy, rose by 20% for the 3 months to the end-March/10, to EUR 635m (US$862.7m). Ongoing strong demand for Hennessy Cognac in China & renewed Champagne orders from distributors helped wine & spirits sales to rebound from EUR 540m in the same period of 2009. The figures will build confidence in the Champagne sector, following a weak 2009 amid the global economic crisis. "Following a year negatively affected by high levels of de-stocking, in the first quarter, the Champagne business benefited from a renewal in orders from distributors," said the firm, which owns Moët & Chandon. The company is 34%-owned by Diageo.
